The market for meat substitute is likely to grow as a result of rising public health education about meat adulteration and environmental or ethical concerns associated to meat consumption. Customer are altering their eating habits to include more plant-based protein instead of meat protein. These things help people in attaining the per day intake of protein for optimal health. Additionally, meat alternatives assist in consuming 20% fewer calories, which helps on in losing weight. The meat alternative raises bone mass and lowers blood cholesterol while lowering the risk of cancer and heart disease. Diarrhoea, brain problem, cramps, muscle ache, and fever can all be symptoms of meat adulteration and infection. Hence, it is anticipated that over the forecast period, the market for meat substitute may rise due to the rising prevalence of such disorders connected to meat eating.
The global Meat Substitute Market was valued at US$ 3.9 billion in 2016, and is expected to expand at a CAGR of 7.6% in terms of revenue, during 2018– 2025.
Leading companies in the Meat Substitute Industry:
1. Amy’s Kitchen Inc.
Amy’s Kitchen Inc. is a family owned, independent organic food company and was founded in 1987. It is operational in more than 28 countries around the globe and headquarters in Petaluma, CA. In November 2020, it has plans to invest in a new pizza manufacturing plant in San Jose, California, particularly for the production of frozen organic meals and shelf-stable soups.
2. MGP Ingredients, Inc.
MGP Ingredients, Inc was established in 1941and is leading producer of food ingredient solutions. The company headquarters in Atchison, Kansas. In September, 2022 MGP Ingredients, Inc. announced the launch of Proterra Crumbles, a line of chef-seasoned plant based protein crumbles developed for foodservice operations.
3. Beyond Meat Inc.
Beyond Meat Inc. develops plant based food products was founded in 2009. Beyond Meat is headquartered in El Segundo, California, USA. In November, 2022 the company launched Beyond Chicken Nuggets and Beyond Popcorn Chicken.
4. Sonic Biochem Extractions Ltd.
Founded in 1997 by Late S. K. Matlani is the global leader in manufacturing Non-GMO Soya and Sunflower ingredients for processed food, processed meat, healthcare and cosmetic products. Operational in more than 50 countries and headquarters in Indore, India.
5. VBites Foods Limited
Founded in 1993 is the leading producer of vegan food, producing vegan meat substitute and vegan health food products. It headquarters in Corby, Northamptonshire.
6. The Nisshin OilliO Group, Ltd.
The Nisshin OilliO Group, Ltd. March 1907 headquarters Tokyo, japan and operational more than 8 countries.The Nisshin OilliO Group,Ltd. engages in oil and meal, processed oil and fat, fine chemical, and health science businesses The company offers edible oil for use in household, commercial, and food processing applications.
7. Archer Daniels Midland Company
Archer Daniels Midland Company is global human and animal nutrition company delivering solutions was founded in 1902 and is headquartered in Chicago, Illinois. In the month of November, 2022 ADM and the IMGS Group signed an agreement for the establishment of a joint venture in Pakistan.
8. Garden Protein International
Garden Protein International is a manufacturer of; Gardein (garden + protein) which is a plant-based protein brand offering a variety of delicious, convenient and versatile foods. Garden Protein International's headquarters is located at British Columbia, Canada.
9. Meatless BV
Meatless BV was established in 2006 and is producer of vegetable textured products which can be used in large variety of processed food products.
*Definition- Food that has similar appearance, taste, and texture as food made from meat, fish, and poultry are known as Meat substitute
